dryhillsjon's review of NZForex - www.nzforex.co.nz

I feel mixed about writing this due to the fact that NZForex (OzForex) have always been good when I've dealt with them in the past. However, a recent transaction of $30000 took over 2 weeks to arrive and I was told that delays were sometimes due to 'exotic currencies' being traded. In other words - anything other than USD/GBP/NZD/AUD? Who knows. I lost money due to the timeframe it took and NZForex were not willing to front up and help at all. They just copied in their terms and conditions. The big problem with third party transactions outside banks is that they are quick to point the finger at other people when things go wrong, which is what NZForex did. I will be looking at banks in future as I think that with persuasion they can match NZForex rates and transfer funds more smoothly. If you aren't in a hurry for your money - go ahead. They respond to emails quickly, the rates are good. Just don't expect a lot of help if your money goes awol. Their standard response of if goes missing is "We can send it back as soon as we find it." Great.

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Ozforex's Response to dryhillsjon's Review

Written on: 23/10/2013

Hi,

Thanks for taking the time to provide feedback and I am sorry to hear of your recent experience with NZForex. Unfortunately payments can sometime experience a delay in clearing into your beneficiaries account and in that situation we communicate with our corresponding banks and intermediary banks to establish the progress of the transfer.

We can see that these transfers did take longer than we would normally expect and we would like the opportunity to discuss this and your experience with our customer support team with you further if you would be happy to do so. Looking forward to hearing from you soon.